ABSTRACT
The future of infrastructure projects is certain – there will be more risks to manage! The challenge is being met through research and innovation combining current approaches with new. This chapter adopts a dynamic approach through the combination of Analytical Network Process (ANP) and system dynamics (SD) as an innovative methodology known as SDANP to model risks effects in construction and engineering projects. We communicate how the SDANP model could explore problems caused by tangible and non-tangible project risks to construction cost, time and performance and provide insights that lead to organizational learning. We proceed to exemplify by means of a real-life case project in the City of Edinburgh and offer suggestions on what front-ended stakeholders could do to improve the management of risks in construction and engineering projects. The findings of the SDANP model contribute to the project management theoretical development within the field of construction and engineering projects. The proposed model could be used by project managers, sponsors and policy makers involved with the procurement of large construction and engineering projects to enable a system thinking approach to project delivery.
